Rush Enterprises (NASDAQ:RUSHA) Rating Lowered to Strong Sell at Zacks Research

Key Points

• Zacks Research has downgraded Rush Enterprises (NASDAQ:RUSHA) from a "hold" to a strong sell rating.
• Analyst opinions are mixed (two Buy, one Hold, one Sell) with a consensus rating of Hold and a consensus target price of $76.50.
• Rush beat quarterly estimates (EPS $0.81 vs. $0.69; revenue $1.77B), trades around $73.74 with a $5.67B market cap and a 22.55 PE, and insiders sold about 33,750 shares (~$2.35M) in the last quarter.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) was downgraded by equities researchers at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the stock. UBS Group reissued a "neutral" rating and set a $73.00 target price (up from $70.00) on shares of Rush Enterprises in a research report on Wednesday, February 18th. Stephens reissued an "overweight" rating and set a $80.00 target price (up from $55.00) on shares of Rush Enterprises in a research report on Thursday, February 19th. Wall Street Zen downgraded shares of Rush Enterprises from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Finally, Weiss Ratings raised shares of Rush Enterprises from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $76.50.

Rush Enterprises Stock Up 0.1%

Shares of NASDAQ RUSHA opened at $73.74 on Tuesday. The company has a 50 day simple moving average of $68.68 and a 200 day simple moving average of $60.15. The firm has a market cap of $5.67 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 1.46 and a beta of 0.89. Rush Enterprises has a 1 year low of $45.67 and a 1 year high of $75.99. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 0.37.

Rush Enterprises (NASDAQ:RUSHA - Get Free Report) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The business had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.72 billion. Rush Enterprises had a net margin of 3.55% and a return on equity of 11.96%. On average, research analysts forecast that Rush Enterprises will post 3.81 EPS for the current year.

Insider Activity at Rush Enterprises

In other news, SVP Michael L. Goldstone sold 4,500 shares of the firm's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $71.86, for a total transaction of $323,370.00. Following the completion of the sale, the senior vice president owned 12,590 shares of the company's stock, valued at $904,717.40. This trade represents a 26.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Raymond Joseph Chess sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $65.05, for a total transaction of $650,500.00. Following the sale, the director directly owned 41,170 shares of the company's stock, valued at approximately $2,678,108.50. This trade represents a 19.54% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 33,750 shares of company stock worth $2,349,450. Corporate insiders own 12.68% of the company's stock.

Institutional Trading of Rush Enterprises

Several large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC grew its position in shares of Rush Enterprises by 1.1% during the 4th quarter. Kestra Advisory Services LLC now owns 17,907 shares of the company's stock worth $966,000 after buying an additional 200 shares during the period. California State Teachers Retirement System grew its position in shares of Rush Enterprises by 0.4% during the 2nd quarter. California State Teachers Retirement System now owns 57,375 shares of the company's stock worth $2,955,000 after buying an additional 208 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Rush Enterprises by 8.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,969 shares of the company's stock worth $159,000 after buying an additional 219 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of Rush Enterprises by 44.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 748 shares of the company's stock worth $40,000 after buying an additional 230 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of Rush Enterprises by 0.7% during the 4th quarter. State of Alaska Department of Revenue now owns 35,188 shares of the company's stock worth $1,897,000 after buying an additional 251 shares during the period. Institutional investors and hedge funds own 84.43% of the company's stock.

About Rush Enterprises

Rush Enterprises, Inc, headquartered in New Braunfels, Texas, is a leading distributor of commercial vehicles and related products in the United States. Through its Rush Truck Centers subsidiary, the company sells new and used medium- and heavy-duty trucks, buses and specialty vehicles, while also offering factory-authorized parts, collision repair, maintenance and warranty support across its network of dealerships.

Founded in 1965, Rush Enterprises has grown to encompass more than 150 locations in over 20 states, partnering with major manufacturers including Kenworth, Peterbilt, Freightliner, Volvo and Mack.

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